Bilbo is in the Mirkwood with no food or water. The dwarves have been captured by the elves. He realizes there is only one exit from the palace where the dwarves are being held. He manages to get the dwarves out, but is unable to escape right away himself. When he does get away, he is chased.
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Bilbo was caught by the three trolls, Tom, Bert and William, when the 13 Dwarves sent him to scout out what the source of the light that they saw in the distance was. Upon seeing the trolls he felt that before he returned to the Dwarves he should steal something that belonged to the Trolls (the Dwarves had previously called Bilbo their 'burglar'.
The main theme of The Hobbit is good vs. evil.
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Frodo Baggins is the main hobbit character, due to the fact that the greatest burden is placed on him. There is a lot of discussion about who the hero is in The Lord of the Rings. Many believe that Sam is the hero, the one who represents every man. In The Fellowship of the Ring, Frodo is definitely the main hobbit, as we hear mostly his thoughts and feelings. The same goes in the Two Towers. However, Sam is the main hobbit in the Return of the King, as he is the only one left to continue the quest and he saves Frodo and things are seen from his point of view.
Bilbo Baggins is the title character of the book.
The Arkenstone is the jewel of main focus in The Hobbit, and it's a prized treasure among the dwarves.